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April 23, 2019 | Food & Beverages
Pune, India, April, 2019: In terms of application, the functional food and beverage segment held the led the Global Probiotics Market with a share of 75.4% in 2017. The segment is also projected to grow at a steady pace through the forecast period from 2018 to 2025. The growth projected is attributed to the rising awareness among people about functional drink’s benefits. This is likely to increase functional drink’s production and propel probiotic’s demand in the global probiotics market. According to a report published by Fortune Business Insights, titled “Probiotics: Global Market Analysis, Insights and Forecast, 2018-2025” In 2017, the global probiotics market was valued at US$ 42 Bn, and is expected to progress at a CAGR of 7.32% and reach US$ 74.69 Bn by the end of 2025.
In terms of microbial, the bacterial genus viz. Lactobacillus and Bifidobacterium are extensively used in production of probiotic products. Therefore, Lactobacillus and Bifidobacterium are projected to be high in demand during the forecast period. Besides this, in terms of distribution channel online platform is gaining all the attention and is expected to expand with a CAGR of 9.9% during the period 2019-2025. These factors are likely to propel the demand in the global probiotic market.
Growing Fitness Concern Among People to Generate Demand for Probiotic Products
“Increase in clinical trials to report more benefits of probiotics backed by scientific evidence is expected to raise customer’s confidence in probiotic products and raise the demand for probiotic products,” said a lead analyst at Fortune Business Insights.
Increasing prevalence of digestive disorders and rapid adoption of sedentary lifestyle are some factors anticipated to push the growth in the global probiotic market. Moreover, rising fitness concerns among people have led to the adoption of certain probiotic infused products in their dietary routine. This is expected to increase the demand in the global probiotic market during the forecast period 2018-2025.
On the contrary, high cost associated with clinical trials undertaken to report more benefits of probiotic is likely to restrain the global probiotic market to a certain extent during the forecast period.
China and Japan to Drive the Probiotic Market in Asia Pacific
The probiotic market in Asia Pacific has been growing rapidly since the last few decades, consequently it was valued at US$ 19.04 Bn in 2017. Majorly China and Japan have been pulling the probiotic market in Asia Pacific as they account for more than half of the sale in the region. The demand for probiotic drinks is projected to be promising in India and certain countries in Southeast and Central Asia owing to customer’s preference to stick to product’s offering target action and instant effect. Besides Asia Pacific, the probiotic market in North America, is the most advanced, given the variety of products available in retail store in the region.
The global probiotic market has a fragmented vendor landscape owing to the strong presence of globally-established players such as Danone S.A., Lallemand Inc., Yakult Honsha, Nestlé S.A., DuPont USA, Chr. Hansen, Danisco A/S, Post Holdings, Inc., Pepsico, Inc., Evolve Biosystems, Inc., and Bifodan A/S.
Fortune Business Insight’s report also provides an insightful overview of opportunities, strategies used by the leading organization in the market, and the potential areas of development.
Browse Complete Report Details at https://www.fortunebusinessinsights.com/industry-reports/probiotics-market-1000
The global probiotic market can be segmented into the following categories:
Segmentation of the Global Probiotics Market
By Microbial Genus
· Functional Food and Beverage
· Dietary Supplement
· Animal Feed
By Distribution Channel
· Pharmacies/Health Stores
· Convenience Stores
· Online Retail
· North America (USA, Mexico, and Canada)
· Europe (UK, Germany, France, Italy, Spain, Belgium, Russia, and Rest of Europe)
· Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific)
· South America (Brazil, Argentina, and Rest of South America)
· Middle East & Africa (South Africa, UAE, and Rest of the Middle East & Africa)